SOCI 100 Lecture Notes - Lecture 13: Offshoring, Canada Pension Plan, Fraser Institute
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SOCI 100 Full Course Notes
Verified Note
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Document Summary
There is vast inequality in income and wealth in canada. Those with the least income and wealth are at risk of lving in poverty and being homeless. Reduces ability to work and be productive due to illness. Stigma of being dependent on the state for benefits etc. Greater health costs to be met by taxation. Deprivation of some people in relation to those who have more. Lack of resources of point of being life-threatening. 1 billion people (1/7th of the world) live in absolute poverty. When people spend more that 55% of their pre-tax income on food, clothing, and shelter. Importantly no official government definition of poverty in canada. U. s. census bureau determines poverty status by comparing pre-tax cash income against a threshold that is set at three times the cost of a minimum food diet in 1963. Updated annually for inflation using the consumer price index. Adjusted for family size, composition, age of householder.
